Published on March 13, 2014
THIS IS THE TELENOR GROUP 1
More than 166 million consolidated mobile subscriptions, Q4 2013 • Mobile operations in 13 markets in Norway, Europe and Asia • A voting stake of 43 per cent (economic stake 33 per cent) in VimpelCom Ltd. with 215 mill. mobile subscriptions in 17 markets • Among the top performers on Dow Jones Sustainability Indexes • Revenues 2013: NOK 105 bn Telenor Group Revenue distribution 23% 25% 44% 6% 2% Norway Europe excl Norway Asia Broadcast Other 3.2 2.4 1.8 3.9 3.2 3.1 0.374 47.1 28.0 33.4 27.9 10.9 Norway Sweden Denmark Bulgaria Hungary Serbia Montenegro Bangladesh India Pakistan Thailand Malaysia Norway Serbi a Montenegro Bangladesh India Pakistan Thailand Malaysia Sweden Denmark Hungary Bulgaria Myanmar
Strong regional footprint and positions in Europe and Asia 3 Norway Sweden Denmark Hungary Serbia Montenegro Bulgaria #1 or #2 positions in most markets Thailand Malaysia Bangladesh Pakistan India Myanmar
Subscription growth – consolidated companies 52 70 80 91 120 147 166 0 20 40 60 80 100 120 140 160 180 2007 2008 2009 2010 2011 2012 2013 No. of mobile subscriptions world wide, in millions
Strong revenue growth 55 75 86 88 90 94 99 102 105 0 20 40 60 80 100 120 2005 2006 2007 2008 2009 2010 2011 2012 2013
Group Executive Management (GEM) Telenor Group Jon Fredrik Baksaas Group Finance Richard Aa Group Communications Pål Kvalheim Group Legal Pål Wien Espen Norway Berit Svendsen Asia Sigve Brekke Group Industrial Development Hilde Tonne Digital Rolv-Erik Spilling Associated members of the Group Executive Management. Europe Kjell-Morten Johnsen Corporate Advisor Johan Rostoft Group People Development Jon Erik Haug
Learning the basics in Norway Beliefs in the early 1990’s: • Growth outside Norway • Growth in mobile 1966 Manual Mobile Norway 1993 GSM Norway 1981 Automated Mobile Norway - 1970 1980 1990 2000 2010
Early international expansion Taking positions in Europe and Asia 1994 Russia 2000 Thailand Denmark 1998 Ukraine 1996 Montenegro Austria Bangladesh 1995 Ireland 1993 Hungary 1997 Greece Germany - 1970 1980 1990 2000 2010 1999 Malaysia
2009 India From minority to majority positions 2007 EXIT Austria 2006 Serbia 2005 Pakistan 2005 Sweden 2004 EXIT Greece - 1970 1980 1990 2000 2000 EXIT Ireland Germany 2010 2010 VimpelCom Ltd. established 2013 Bulgaria Myanmar
Norway - the home market A leading position in mobile, Internet and TV services
Norway Population (mill.) Company Ownership Subscriptions (thousands) Market position Mobile 5.0 Telenor 100% 3,216 1 Fixed telephony 5.0 Telenor 100% 800 1 Fixed Internet 5.0 Telenor 100% 864 1 TV 5.0 Telenor 100% 527 1 Norway Mobile, Fixed, Internet and TV more than mobile subscriptions
Europe A long-term presence
Europe* Mobile operations more than subscribers Country Population (mill.) Company Ownership Subscriptions (thousands) Market position Sweden 9.3 Telenor 100% 2,484 3 Denmark 5.5 Telenor 100% 1,828 2 Hungary 10 Telenor 100% 3,270 2 Serbia 7.5 Telenor 100% 3,171 1 Montenegro 0.6 Telenor 100% 374 1 Bulgaria 7.1 Globul 100% 3,995 2 * without Norway
Europe* Fixed Internet operations Nearly Subscriptions Country Population (mill.) Company Ownership Subscriptions (in thousands) Market position Sweden 9.3 Telenor 100% 530 2 Denmark 5.5 Telenor 100% 166 2 * without Norway
Europe* Fixed telephony More than subscribers Country Population (mill.) Company Ownership Subscriptions (in thousands) Market position Sweden 9.3 Telenor 100% 277 3 Denmark 5.5 Telenor 100% 111 2 * without Norway
Asia A strong regional player
Asia Mobile operations Country Population (mill.) Company Ownership Subs (mill.) Market position Thailand 63 dtac 51,5%* 27,942 2 Malaysia 28 DiGi 49% 10,995 3 Bangladesh 162 Grameenphone 55.8% 47,110 1 Pakistan 168 Telenor Pakistan 100% 33,405 2 India 1 200 Uninor 67.25% 28,004 8 close to subscribers * Economic stake
30.2% Percentage = Telenor ownership as of Q4 2013 Maritime Communications Partner AS 100% AeroMobile Ltd 100% 100% 100% IV 51% - VII 100% 100% Other companies Telenor has an ownership of more than 50% in 220 companies
Telenor will remain a growth company and a retail operator 22 Telenor will continue to focus on growth and value creation. Telenor will maintain being a retail operator, with the main share of revenues coming from communication and connectivity services. We will provide new selected digital services to defend this position.
2014-2016 Strategic ambitions Internet for All Loved by Customers Efficient Operations Passionate employees Impact Societies STRATEGYENABLERS
Strong industry and company rationale for the 2014-2016 Strategic ambitions Internet for All Loved by Customers Efficient Operations STRATEGY Passionate employees Impact Societies ENABLERS Need for new skills and more customer orientation Playing an increasingly important role in the societies Hitting and monetizing the next growth curve Competing for the same customers in saturating markets Improving customer experience and providing affordable services
INTERNET FOR ALL There is great opportunity in providing people with affordable internet connectivity Stimulate usage Monetize Enable use 2 3 1 In addition we will build positions in new service areas with attractive stand-alone revenues, like Financial Services, M2M, etc.
Quality and efficiency through new operating models Deliver on customer needs Leverage scale and volume
We are on our way Future Customer Service
“Creating Shared Value is integral to a company's profitability and competitive position” Michael E. Porter & Mark R. Kramer, Harvard Business Review, 2011 “The cell phone is the single most transformative technology for development” - Prof. Jeffrey Sachs, Columbia University
Internet • A 10 pt increase in Internet penetration can create: • 3-10% productivity increase • 1% increase in new business creation Mobile access • Increased mobile penetration can contribute to faster economic growth • Mobile phones can improve access to social services – e.g. health and education Financial Services • Two billion unbanked mobile users could be served by mobile financial services (MFS) • MFS can help families overcome income uncertainty and financial shocks Over 2.5B adults (~72%) in developing world are unbanked Almost 2.5B people in developing world have mobile phones Up to 2B unbanked mobile phone users +10 pp +1.2 pp (K) * Source: Telenor/Deloitte/Boston Consulting Group Potential job creation from Internet adoption Mobile health services • Can reduce maternal mortality by up to 30% • Doctors can treat twice as many rural patients per doctor • Data collection costs can be reduced by 25% -30% Potential decrease in maternal mortality from mHealth adoption As Is mHealth Access to Communications Enabling services The communications opportunity
Telenor Group CR Strategy Extending the benefits of mobile telecommunications Ensure responsible business practices across the organisation Climate contribute to reducing climate change Enable positively impact underserved groups through telecommunications Safe provide safe services and safe user experiences Environment SocialHuman rights Shared value Telenor & Society
Telenor Group on Dow Jones Sustainability Indexes (DJSI) for the 11th year running 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Throughout our Group we set a high ambition both for our business performance and the ethics by which we must operate. To help us meet these ambitions we have defined a set of guidelines, principles and standards that together describe how we work. We call this way of working “The Telenor Way”. A shared approach to our work
The Telenor Way • Our Codes of Conduct set a high ethical standard across all companies Strong on Ethics • Our Vision, Mission and Values communicate the importance of customer focus Customer centric • The Leadership Expectations stress empowerment and passion as main influencing styles Empowering leadership
Empower societies We provide the power of digital communication, enabling everyone to improve their lives, build societies and secure a better future for all. Our vision to empower societies is a clear call to action. We bring vital infrastructure, new services and products that stimulate progress, change and improvement. Our Vision is a picture of what we aim to achieve through our work. It sets the direction for what we do. Our Vision
We’re here to help our customers We exist to help our customers get the full benefit of being connected. Our success is measured by how passionately they promote us. Our Mission
The Values are a guide for our everyday work. They describe how we should serve our customers and work together as colleagues. Make it easy Keep promises Be inspiring Be respectful The Company Values
The Leadership Expectations describe the additional attitudes and behaviors we expect from our leaders when we work the Telenor Way. Passion for Business Change and continuous improvement Excellent execution Empower People Integrity and Accountability The Leadership Expectations
Our business serves a bigger purpose “Cell phones are one of the most effective advancements in history to lift people out of poverty. PHONES MEAN FREEDOM” Bill Clinton, Time Magazine 1 Oct 2012 41
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